Saturday, December 5, 2015

'Crimson Flame' Ruby sets new auction record

Christie’s sold an “exceptionally rare” Burmese ruby for $18m (HKD 142m) at its Magnificent Jewels auction in Hong Kong, setting a world auction record for a ruby of $1.2 million per carat. The 15-carat “pigeon’s blood” gem surpassed its high estimate of $15 million.

In addition to the ‘The Crimson Flame,’ Christie’s also sold the flawless ‘Afghan Emerald’ for $2.2m, the highest-ever auction price for an Afghan emerald.

Christie’s sold a 120-carat Burmese ruby and diamond necklace for $13m in June, setting a world auction record for a ruby necklace.

Christie’s sold 80 percent by lot and 83 percent by value at the event, attracting 160 buyers from 16 countries. The auction of 320 lots took in $96.9 million.